Atmosphere, an Austin, Texas-based leader in streaming TV for businesses, raised $25m in Series B funding.
The round, which valued Atmosphere at $275m, was led by Valor Equity Partners.
The company intends to use the funds to expand its business reach.
Led by Leo Resig, co-founder and CEO, Atmosphere is a free streaming multi-channel platform for businesses offering over 50 original and partner TV channels licensed for global, commercial venue usage. The company also provides value added features for venue operators including a digital signage feature for businesses to run their house promotions within the content and a paid ads-free version. The content includes both owned-and-operated channels such as Chive TV and Happy TV, as well as those created with partners including Red Bull, X Games and America’s Funniest Home Videos.
The business was incubated within Chive Media Group as CHIVE TV and spun out in 2019 into Atmosphere.